You run your own business, but are you considered self-employed? The definition of self-employment can be confusing. What does self-employment mean? Find out below.
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October 31, 2022
Accounting Articles
Accounting Tips, Training, and News
October 31, 2022
How to Price a Product
Product pricing can make or break your small business. If you set prices higher than what customers are willing to spend, you lose sales. But if you set prices too low, you don’t earn at your highest potential. Price points need to meet somewhere in the middle to generate the most revenue. Do you know […]
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October 31, 2022
What Is Owner’s Equity?
If you are a sole proprietor or partner, you or you and your partners are entitled to everything in your business. You don’t provide dividends to shareholders. You have full ownership of your business. However, you still have liabilities that you need to handle. Failing to consider your liabilities will give you a false picture […]
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October 31, 2022
What Is Gross Income for a Business?
Gross income is an important financial figure you can use to calculate other figures and determine how your business is doing. Learn about gross income, how to calculate it, and how to use it.
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October 28, 2022
Business Owner Responsibilities You Can Manage: Financial Tasks
Managing accounting is just one of your business owner responsibilities. But for many, it can be overwhelming and nerve-racking. Your first instinct might be to outsource all your accounting tasks to an accountant. However, there are many financial tasks you can, and should, manage on your own.
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October 28, 2022
Book Value vs. Market Value
As a business owner, you have many types of assets. Knowing how much your assets are worth is necessary for properly creating financial statements, obtaining outside financing, and selling your property. But, assets don’t retain the same value throughout their life cycle. You need to know the difference between book value vs. market value to […]
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October 28, 2022
What Is Inventory?
Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory?
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October 28, 2022
What Are Adjusting Entries?
Having accurate accounting books is essential for making financial decisions, securing financing, and drafting financial statements. But sometimes, you find gaps in your records, either from making mistakes or carrying out transactions from one accounting period to another. To combat discrepancies and get your records in order, you need to create adjusting entries. What are […]
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October 28, 2022
Should You Grow Your Business?
If you are a small business owner, you may be asking yourself, Is it time to grow my business? Before you race off to grow your business, you need to make sure that your company is ready for expansion. Continue reading to see if it is time for your small business to grow. And, check out […]
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October 28, 2022
Fair Market Value for Small Businesses
Do you have business assets? If you’re running a small business, you likely have many tangible and intangible assets. And when you sell those assets or buy new ones, you should know their fair market value.
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